A branch that keeps a complete record of all accounting transactions is called an independent branch. Independent Branch - As the size of the branches grows larger, their functions get more complex. In such a case, each branch should build its own double-entry bookkeeping system separate from the main office's. This branch accounting system treats the branches as separate, self-contained entities. Additional InformationForeign Branch - A foreign branch office is a company's representative in another country that is capable of conducting business independently. Depending on the country's legislation, the branch office can or should be a limited corporation, with the parent company's shares held abroad. Local Branch - A local branch is a company's office in any other place in the same country other than its head office. Dependent Branch - A branch that is mostly reliant on Head Office for "Goods and Cash. " Head Office will also keep track of the books of accounts for such a branch. Conclusion: An independent branch keeps competitive records of all its transaction.